Savings should yield interest

12:25 AM,
Mar. 24, 2013

Written by

Scott
Webb

Have you been saving for your "golden years" all your life? Do you have certificates of deposit, savings and money market accounts? Congratulations on your savings habits. In the past 30 years, you have been earning 3 percent to 8 percent on FDIC insured accounts back to the 1980s.

Let's say you now are 65 years old and have $200,000 saved for some extra income during retirement. Most of us were planning on at least 3 percent, and maybe 5 percent. This would bring you an extra $6,000 to $10,000 per year in income for your retirement.